And while I am being honest, let me further reveal that my membership in the 1% is mostly owed to making every effort to be
Month: February 2021
Idiocy And The Art Of Getting Lost
This brings us closer to answering the nagging question that just won’t go away: Why are madness and stupidity embraced as a tool of political
The Story
Coming into Thursday, it was clear that rates were going to be the story. Of course, rising yields have been the story for weeks now,
Spooked Market Turns To ‘Bogus’ Convexity Narrative Amid Bond Rout
The red-hot US housing market (the “giant flaming marshmallow,” as I’ve called it), may be poised for a kind of double whammy. Prices have, of
Coinbase To Go Public With $100 Billion Valuation, No Address
Coinbase is going public in a direct listing. And why wouldn’t it? I’m a simple man (in some ways), so I view the crypto world
Albert Edwards Says MMT ‘Captured’ Biden, Warns Of Stock ‘Riot’
A few weeks ago, while describing a meeting at the White House between Joe Biden, Janet Yellen, Kamala Harris and a handful of executives including
Jobless Claims Fall, But Remain Embarrassingly High
In a welcome reprieve, US jobless claims fell sharply last week. 730,000 Americans filed for unemployment benefits, down 111,000 from a downwardly revised 841,000 the
Playing The Real Game
The “memes” are back. GameStop and other manifestations of last month’s Reddit mania started grabbing headlines again late Wednesday, and it looks as though market
Marko Kolanovic Finds A Bubble – In The VIX
Marko Kolanovic says the VIX is “bound to decline.” In a Wednesday note, Kolanovic blamed recent “turmoil” in markets on the rotation in equities, as
Bank On It
It’s good to be the bank. You know, just in a kind of general sense. That’s where all the money is, after all. And last
Critical Systems
Some of the Fed’s critical systems went down on Wednesday. But not the ones that buy stocks. They were fully operational. I’m just kidding. I
A Half-Million Dollar Home Is Where The Heart Is
Don’t count the “bubble” burst just yet. While some recent evidence (both anecdotal and otherwise) suggests rising prices are beginning to curtail demand in the
Raiders Of The Lost ARK
They’ll turn on you fast. Anyone who’s ever enjoyed even a modicum of success involving the adoration of other people knows humans are fickle beasts.
Exchange Rate
European and US equities appeared largely inattentive to a selloff in Asia Wednesday. In Hong Kong, stocks dove 3% after the government raised the stamp-duty
‘Dip’pin Dots
“I would be surprised if there was support in the Republican caucus if the bill comes out at $1.9 trillion,” Susan Collins said Tuesday, suggesting
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